Forex Daily Outlook July 31 2012

CB Consumer Confidence in the US and GDP in Canada are the main events lined up. Let’s see what awaits us today.

In the US, The Conference Board (CB) Consumer Confidence, Survey of economic conditions like labor availability and overall economic situation, reduce of 0.5 points are likely down to 61.5 points now.

Later in the US, Core Personal Consumption Expenditures (PCE) Price Index, consumer’s price change of goods and services (not including food and energy), is about to rise up by 0.1% to 0.2%.

Later on in the US, Employment Cost Index, the price change that businesses and government pay for civilian employment, raise of 0.2% is likely up to 0.6%.

More in the US, Personal Spending, value of all consumers’ expenditures, is forecasted to rise up by 0.1%.

Moreover in the US, Standard & Poor’s (S&P) Case-Shiller (CS) Composite-20 House Price Index (HPI); the selling price of homes in 20 urban areas, raise is predicted from -1.9% on June up to -1.5% on this report.

also in the US, Chicago Purchasing Managers’ Index (PMI); Monthly Survey that measures in Chicago the business conditions such as employment, new orders, supplier deliveries and inventories, is due to reduce by 0.3 points down to 52.6 points.

Finally in the US, Timothy Geithner, US Treasury Secretary, is due to speak in Los Angeles.

In Canada, Gross Domestic Product (GDP), value all economy’s goods and services production, due to reduce by 0.1% to 0.2% now.

Later in Canada, Raw Materials Price Index (RMPI); the monthly manufacturer’s price change of raw materials, is due to rise from -1.0% on June up to 1.7% this month.

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